401(k) & SEP Rollovers** through CFS* at Wright-Patt Credit Union

Financial advice on your retirement plan when leaving a job — our Retirement Solutions team can help you decide which option is best for you.

When you start a new job, you have some decisions to make about your 401(k) or other retirement plan with your previous employer. With the guidance of a financial advisor or registered representative on our Retirement Solutions team, available through our broker/dealer, CUSO Financial Services, L.P. (CFS),* we’ll sit down with you side-by-side to help you sort through your options for rolling over your money and select the option that’s right for you.

*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer. (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. Wright-Patt Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.

**Before deciding whether to retain assets in an employer sponsored plan or roll over to an IRA, an investor should consider various factors including, but not limited to: investment options, fees and expenses, services, withdrawal penalties, protection from creditors and legal judgments, required minimum distributions and possession of employer stock.

Additional Resources

FAQs

Q:

I have started a new job. What are my options for my previous employer's 401(k)?

Generally, you have four options:

Take the money out of the retirement account. This allows you to have access to the funds to do whatever you like, but it also comes with some stiff penalties from the IRS, which could hurt your long-term retirement goals.

Stay invested in your current plan. This sounds great because you are familiar with the plan and your investments. However, it may limit your options of available investments.

Move the money to your new 401(k) plan. Some employers will allow you to transfer money into your new plan.

Roll your 401(k) funds over to an IRA. This avoids any tax penalties and lets your retirement money continue to grow tax-deferred.

A Financial Advisor at Wright-Patt Credit Union, available through our broker/dealer, CUSO Financial Services, L.P. (CFS), can help you sort through the options and select one that makes sense for you today, and in the years to come. Advisors are available by appointment at any Member Center. Appointments can be made by calling (937) 912-7855 or (800) 762-0047, ext. 7855.

*Investment products and services offered through CUSO Financial Services, L.P. (CFS) are not NCUA/NCUSIF insured, not obligations of the credit union, not credit union guaranteed and may lose value. Advisors are employed by Wright-Patt Credit Union (WPCU) and registered through CFS. WPCU is in partnership with CFS. (Member FINRA/SIPC and SEC Registered Investment Advisor)

Q:

How can I make an appointment with a Financial Advisor to discuss my 401(k)?

The Financial Advisors, available through our broker/dealer, CUSO Financial Services, L.P.*, at Wright-Patt are available by appointment at any Member Center. Appointments can be made by calling (937) 912-7855 or (800) 762-0047, ext. 7855

Bring a copy of your most recent account statement and a distribution form from your former employer. Our Financial Advisors will review your current investments, help you determine how much risk you want to take, and learn about your investment objectives. Based on this information, the Advisor will recommend options that are consistent with your goals.

*Investment products and services offered through CUSO Financial Services, L.P. (CFS) are not NCUA/NCUSIF insured, not obligations of the credit union, not credit union guaranteed and may lose value. Advisors are employed by Wright-Patt Credit Union (WPCU) and registered through CFS. WPCU is in partnership with CFS. (Member FINRA/SIPC and SEC Registered Investment Advisor)

Q:

What financial planning services do you offer?

The following services are available at Wright-Patt Credit Union through CUSO Financial Services, L.P.*, our broker/dealer:

Retirement Planning for Individuals and Businesses

401(k), 403(b), and Pension Rollovers

IRAs (Traditional, Roth, and Educational)

Stocks and Bonds

Mutual Funds

Fixed and Variable Annuities

College Planning (529 Plans and Educational IRAs)

Tax and Estate Planning

Insurance Products (Life, Disability, and Long-term Care)

*Investment products and services offered through CUSO Financial Services, L.P. (CFS) are not NCUA/NCUSIF insured, not obligations of the credit union, not credit union guaranteed and may lose value. Advisors are employed by Wright-Patt Credit Union (WPCU) and registered through CFS. WPCU is in partnership with CFS. (Member FINRA/SIPC and SEC Registered Investment Advisor)

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